With merger clearance granted by India this week, nothing now stands in the way of plans by German chemical producer Lanxess and private equity investor Advent International to create a 40:60 joint venture for high performance engineering plastics with annual sales of around €300 million.
Together with compatriot project partner OQ Chemicals, Germany’s Röhm has broken ground on a new world-scale methyl methacrylate (MMA) plant it is building at OQ Chemicals’ Bay City, Texas site.
German specialty chemicals producer Lanxess and private equity group Advent International have named Calum MacLean as CEO-designate of their planned joint venture for high-performance engineering plastics.
German specialty chemicals producer Lanxess and private equity investor Advent International have clinched a carefully constructed deal to buy DSM’s engineering plastics business for around €3.7 billion. The assets will then be merged with the Lanxess engineering plastics portfolio to create a new market player with annual sales of around €3 billion.
Mergers & acquisitions activity in the chemical distribution industry was high in 2021, but current macro-economic conditions may have a dampening effect on the number of deals that will conclude by the end of this year.
